1099 CRNA Institute: Thrive as your own boss-Setting up Payroll for your S Corporation

Video Transcription

Video Summary

The video discusses setting up payroll for S-corporations, focusing on obtaining an EIN number, choosing a payroll system, setting up payroll accounts, determining a reasonable salary, establishing a consistent payroll schedule, withholding taxes, ensuring timely payment of payroll taxes, and filing tax returns. It emphasizes the importance of adhering to guidelines, understanding household expenses, and utilizing payroll companies to simplify the process. The key points include obtaining an EIN number, choosing a payroll system, setting up payroll accounts for withholdings, determining a reasonable salary, establishing a consistent payroll schedule, and ensuring the timely payment of payroll taxes.

Asset Subtitle

As a 1099 independent contractor Certified Registered Nurse Anesthetist (CRNA), you typically do not run traditional payroll like an employer would for their employees.

Keywords

S-corporations

payroll setup

EIN number

withholding taxes

payroll companies